I have been having an ongoing email conversation with Michael Solomon the CEO of Loanio for quite some time… In fact, he originally bought advertising on this blog over a year ago. While still hesitant to give an exact date, he told me in no uncertain terms that Loanio is in the final stages of preparing for launch and that both “final security audit and legal compliance audit” are the final hurdles to launch and both are wrapping up.
You may recall I mentioned seeing Loanio at Finovate in SF. To me their most interesting feature is the possibility a co-borrower for bad credit borrowers. I am interested in seeing the impact of the co-borrower on the fundability of bad credit loans in the peer to peer marketplace.
Tom at Prosper Lending Review has some screen shots and a writeup about the inside access he was given.
I expect after many delays that this time is for real and I for one am interested to see if the entrance of a Prosper competitor can re-energize the p2p lending space the way Lending Club and Prosper did in early 2008. Competition breeds innovation and innovation is good for consumers. Welcome Loanio I hope your launch is highly successful.
Related Posts- Loanio Forum P2P No Bank has launched independent forums covering all p2p lending sites -- including Loanio. Loanio has yet to launch, but is still planning a fall 07 release to the best of my knowledge. Have better information? Speculation as to what will set Loanio apart from the other p2p lending sites? ......
- Prosper Update Enhances the Legal Enforceability of Promissory Notes There was a Prosper update last night. Nothing that was completely unexpected... The one thing that struck me as interesting was that borrower's are now required to sign the promissory notes themselves... Before the process had been that Prosper was authorized to sign on their behalf... The part that struck......
- Zopa Shuts Down US Branch Zopa, the UK based peer to peer lending company, is shutting down their US branch due as a result of toughening conditions that are currently being experienced by the US economy. Zopa provides loan services in the UK, as well as in Italy and Japan through a pure P2P style......
- Renaud Laplanche, Lending Club CEO in the News Renaud Laplanche, founder and CEO of Lending Club in California recently spoke with Jackie Hyland from ABC News Money Matters about Lending Club, where borrowers with good credit can obtain personal loans from complete strangers. It was touted as providing a unique and creative way to get a loan that......
- Zing Funding to Launch? I received a rather unusual linked in connection request today... I thought it was out of the blue and almost deleted it... (It may have been out of the blue, but since I cover p2p lending I thought I would take the opportunity to scope/scoop the story.) The website just......
